Payday Loan 
Title Loan 
Personal Loan 
Business Loan 
The economy is in pretty bad shape, so a lot of people have really been through the wringer financially. If you are one of them, you may be trying to dig yourself out of a hole while facing cash flow issues. Did you know you can get bad credit loans with guaranteed approval?
What Are Bad Credit Loans Guaranteed Approval?
These are loans designed for a certain segment of the population that has a history of problems. The intent is to serve an underserved market that may need products like Second Chance Payday Loans or even payday loans with no bank account required.
So if you have been through an ugly divorced, been fired, defaulted on loans in the past, or have a similar story, these loans are designed to help you cope in the short term while rebuilding your credit. They often only perform a soft credit check. Learn more now about the difference between soft and hard checks and why they matter to you. Just click here.
How Do Bad Credit Loans Guaranteed Approval Work?
Having bad credit doesn’t mean you can’t borrow money. It does mean that you will get less favorable terms. Generally speaking, that means the loan will charge higher interest and fees. The way bad credit loans guaranteed approval makes money is by charging enough on each loan to cover the higher losses they expect. Lenders can charge less interest if almost everyone pays it all back. They have to charge more interest if they know a somewhat high percentage of people probably won’t be able to pay them back on time and in full.
These are lenders that understand that everyone deserves a second chance. They also understand that good debt is debt that serves your current needs and goals. That sometimes does cost extra, but paying a bit more doesn’t automatically make it a bad idea.
What Do I Need To Do To Apply?
Although bad credit loans with guaranteed approval typically try to keep the paperwork to a minimum, you will still need some paperwork. You will need some form of identification, such as:
- Driver’s license.
- State issued ID.
- Military ID.
- Student ID.
You need to be a legal adult and either a citizen of the US or a legal resident. You should pull together whatever financial statements you can provide, such as a pay stub or recent back statement, assuming you have a bank account.
Benefits of Guaranteed Loans For Bad Credit
If you are one of the many who have experienced financial setbacks and find that you come up short month after month, then one way to help get your finances back on track is with a guaranteed loan. This type of financing option can be ideal for any debtor who has what’s referred to as “bad credit” or “no credit.” Unlike other lending institutions, the process for getting approved won’t require the applicant to provide collateral or security.
With a guaranteed bad credit personal loan, the requirement is simply to prove your income and establish that you qualify for the amount of money you’re requesting. If this sounds like an appealing option for you, we’re going to show you exactly how this type of loan works and how it can help you in your time of need.
The Guaranteed Loans For Bad Credit Program offers debtors access to fast cash without the requirements typically associated with obtaining unsecured loans.
Bad Credit Loans have the following benefits:
- The borrower does not have to be employed.
- The borrower can be self-employed.
- Loan applicants do not need a good credit score to receive the guaranteed loans for bad credit.
- No collateral or guarantor is needed, and there is no prepayment penalty clause, which means that the loan may be paid by installments and the borrower may repay at any time without financial penalty.
How do Guaranteed Bad Credit Personal Loans Work?
Getting a Bad Credit Loan will require the borrower to complete a simple online application, which can be accessed from the lender’s website. Once an application has been submitted, it will be processed, and the loan applicant will receive a confirmation of their interest rate.
If the borrower decides that they want to go forward with applying, then he or she should sign and return the legally binding contract that is included with their notice of approval. The money from their guaranteed loan for bad credit will be transferred directly into their bank account as soon as possible, following this final step.
The Importance of Making Your Payments on Time
In order to make sure that your Bad Credit Loans For Guaranteed Approval work out as you would hope, it is vitally important that you make your monthly payments on time. This will help to establish a good history with the lender and may even help you qualify for a lower interest rate on future loans.
It’s also important to remember that if the loan ends up going into default, both negative and positive information will be posted on your credit report, which can have a negative impact on your potential for obtaining future debt financing.
How do Guaranteed Bad Credit Personal Loans Work?
Getting a Bad Credit Loan will require the borrower to complete a simple online application, which can be accessed from the lender’s website. Once an application has been submitted, it will be processed, and the loan applicant will receive a confirmation of their interest rate.
If the borrower decides that they want to go forward with applying, then he or she should sign and return the legally binding contract that is included with their notice of approval. The money from their guaranteed loan for bad credit will be transferred directly into their bank account as soon as possible, following this final step.
How Fast is it to Get a Bad Credit Payday Loan?
Because of the timing and high level of security that is required for getting a Bad Credit Payday loan, the process usually takes anywhere from one to three days. This means that most people with “bad credit” and “no credit” would not be able to qualify for a regular payday loan. However, there are some online lenders who specialize in almost providing guaranteed loans to anyone who is able to provide their personal information and an application.
The Interest Rate for Bad Credit Loans
As mentioned earlier, the interest rate associated with this type of financing option will most likely be significantly lower than what you would pay on a traditional payday loan, most often pegged around 15% or less.
Get Started On Your Application For Bad Credit Loans Guaranteed Approval.
TheGuaranteedLoans is a loan clearinghouse. We help connect potential borrowers with loan products, such as online installment loans instant approval. You only have to fill out forms one time with us, then we check our database for matching loan products. It only takes a few minutes and we will walk you through the process. If you have your papers together and are ready, just click here:
FAQ
Any category below a 720 is considered bad credit. A good credit score will run from a 700 to a 720. Anything above this or below this is considered bad credit. A score of 680 and above is required for loan approval. If you don’t meet these requirements, then you should look for other places where you can get your money. A lender could approve anyone regardless of their credit score if that person has low income and has the ability to pay the loan back on time without any problems.
Most lenders will not offer loans to people with bad credit unless they have a good enough income to repay the loan. It’s easy to find loans from those who take bad credit as well as those who don’t. Some lenders won’t even take people with bad credit at all, but you can find those who will.
The easiest way to improve your credit score is by paying off your debts or having a co-signer. If you have a cosigner, they have to be able to vouch for you completely so that you can get approved for a loan regardless of your score. If you want a loan regardless of your bad credit, then it’s best that you pay off your bills and try to work on improving your credit score in the meantime. Many people have been able to work on improving their credit score in around 6 months’ time.